Bitcoin Forum

The bitcoin price is free falling.

So, this is the right to start a discussion. Where will it stop?

What are the possible causes for the Flash CrasH?

My guess is, the Fork issue is one of the major causes...

what do you think?

DUDE!!!

What the hell is happening?  :-[

I guess a huge dump of BTC on Bitfinex. it lost about 50$ worth in 10 minutes. insane.

Yeah, it just hit $162.  I lost all faith in Bitcoin.  Glad I only invest 2 BTC since I first started researching this.  I lost all faith in this "decentralized" currency when TWO GUYS just wrecked havoc and faith in this currency.

I doubt Bitcoin will ever recover as a currency after this.

Blockchain is where you have to invest.  Not BTC  :'(

I guess there is some shit with exchanges. It simply cannot fall so quick. This is some kind of madness.

Something bad happened.  The question is what?  The order books got eaten through on Bitfinex.

The price is going up again people are buying cheap bitcoins.
Hahahaha lol just bought my self 10 bitcoins.

Either that person needed  money quick or he is a dumbass.

this is the results of the bitconXT noncense. The first block was minined and the market was in panic. is that simple. Gavin and hearn break te bitcoin ecosystem

Satoshi pissed off about XT so he dumped his stash  ???

I wish the Winklevoss twins would make a statement about this to calm stuff down.   :-\

woohoo I just bought me some cheap bitcoin! how bout you??   ;D ;D

break the ecosystem by allowing economic majority to pick their direction?

LOL you take stupidity to a-whole-nother level.

If big buyers come in to stabilize the price to around $250, this could've been an over-reaction.  But idk.  I lost faith.

Cheap bitcoins everywhere!  ;D :-*

Create panic make people sell their bitcoins at a lowerprice buy the cheap bitcoins wait a year for the blockhalving ??? get rich

Back up into 220.  Wonder where we will stabilize now.  
Still though that hurt.  The news will be all over this  :-\

Yes of course, The Winkies.... explain why them making a statement would calm this down.

Ok big buyers coming in and the price is literally skyrocketing back up.  14,000 BTC exchanged on Bitfiniex in the last 5 minutes to stabilize price.

You guys losing faith just cuz the price dropped a bit..... are stupid as hell. Wisen the fuck up.

If you seriously lost faith, you never had it to begin with ...

I wait before buying, if there is a panic selling it can goes below $100

Wow. What a rebound. It seems like we are heading up now.

Its' going back up now, I think I bought at the bottom  ;D ;D ;D

I do not doubt that the decline is related to the XT drama. It did coincide with the first XT block being found, although it is possible that the block was found with a NotXT node, so there is an even greater sense of uncertainty.......markets generally do not like uncertainty.

Excuse me it is not about big buyers it is all about a lot of very smart people buying up cheap bitcoins at the moment.
You have exactly 1 year to start collecting bitcoins before the next blockhalving.
Think about it.

The reason this person sold is the same reason the Chinese exchange crashed I just received that info.
Someone bought bitcoins as a investement leverage for his company but the money was lend and now he has to pay those loanes.


It is not about a dumb person or the XT issue.

I have more faith in them then anyone with Bitcoin.  They have over $1 billion in BTC and worked their asses off in getting their Gemini through U.S. regulations to launch.  They literally are putting everything behind BTC.  Most of these other experts don't have much skin in the game.

i remember those days  when i was still fresh ,  it doesnt phase me now, i just buy now when i see this opportunity

The market has spoken and it wasn't nothing to do with XT, the stupid block caused a slowly dropping price to CRASH. What more evidence do you need  ::)

This is the once in a lifetime apportunity I just can't believe everybody goes apeshit and buys like hell.
Just watch the reactions tommorow of people who feel sick they were asleep.

actually agree, the biggest experts in crypto on this board are often ignorant to the opinion of the big money.

Bitcoin is going too keep dropping.
Buy Duty Free Smokes while you can!  :o

Carton's of Cigarette's never drop in price,they only go up.The mob maybe onto something.....

ever heard the term dead cat bounce?

quick profit maybe but fool to go longish atm

I bought some bitcoins around 20 minutes before the price crashed but I don't care, I'm sure it will stabilize again at an acceptable level.

people have said that plenty of times. these kind of dramas are closely connected to bitcoin. once or twice per year such a price decline happens. people who managed to buy are having a good time.

lol winklevii own about 30k bitcoin
even if bitcoin were worth 1k each, thats 30 million$, so a fifth of that right now
they have done very little up til now but talk
yes, gemini may be great 'when ' it comes out but others have beaten them to punch in many ways

karl gray owns vast quantities more btc, produced life on bitcoin movie and much more, prolific speaker, mover and shaker
he is more bullish on startcoin now

check his twitter @paradimeshift

I don't know why people loose faith... crashes happen all the time.

The fork issue has put some pressure on the market and orders got out in a mad rally...

now bots are making the market bounce again, but there's no way of telling when it will stop!

If you had a Bitfinex account and a Coinbase account, you couldve made some easy money.  Coinbase went under $200 for a split second but Bitfinex stayed under $200 for 10 minutes, hitting $162.

The spread was huge for those 5 minutes  :o

yep its done already it seems

You are right, because it wouldn't be possible for someone to already own bitcoin on coinbase and have fiat on bitfinex...

You don't seriously believe this do you?

All the other Crypto Currency's are being murdered.
http://coinmarketcap.com/#USD      WTF is going on???

If I have 20 coins in coinbase and an account at bitfinex.

I buy 20 from bitfinex  and just sell the 20 coins I have at coinbase I end up with 20 coins and 800 in cash.

tell me about it :(

but you can kinda do it if you set a spread up across exchanges ready for such events.

but yeah ton of arbitrage ops present themselves purely because arbitrage is so difficult to do in crypto trading.

That's just because BTC had a flash crash.  It spooked all other currency's.

Dump and pump perhaps?

It is because those coins are connected to bitcoin.
Bitcoin price goes down automaticly the altcoin market goes down.
You buy 1 LTC for a certain amount of sats get  it?

yep, probably with all this panic sell, people are trying to get rid of the alts, trade them for BTC and then for FIAT...

Ethereum still green  ???

At least until Conbase says your transaction was suspecious and voids your trade if the price moves against them.

Seriously, I think panics are a great time to arbitrage between exchanges, I'm just not sure coinbase is the best one to use.  Good luck all the same.

And yes, I do think this is an XT event.  It adds a lot of uncertainty and weakens the ecosystem, both good reasons to sell and not buy.

I dont think it is XT related; if someone decided to exit due to XT (or the first Xt block or whatever) he would not sell all at once.

Surely it was a fatfinger trade or a hack or technical issue (bot?) on Bitfinex

I think this is good explanation what is happening:
This war between XT and core is the culprit. Market is starting to get allergic hence price drop. If this continues I maybe sell my bitcoins... before it will be too late.

no one sells without a limit like that just because of XT
why would someone do that and lose a lot of $$ by emptying the orderbook.

NOT XT RELATED, methinks...but I may be wrong

And how would you get the coins transferred in 5 minutes? No wonder you think winkle fruits are the spokesmen of BTC  :D

the people didnt understand that the prices is connected to the "trust" If this trust break in the bitcoin ecosystem then and the price will crash. And this trust is breaking from Gavin and  hearn with BitcoinXT. I am sure now that someone pay them to do all of this. I dont know how much they get..but i can imagine from where they get the money..

This sort of price instability is what scares new adopters.
Bitcoin XT is finally having an impact.  :P

This dissonance just started. Imagine what it will bring in the long run. Bitcoin price is the first factor it will be followed by mass panic.
I don't want to be prophet of the doom but this xt vs. core war may be the end of bitcoin as we know it.
And then banks in cooperation with government will introduce something like BetterCoin and our dream of free money will be gone.

While some are panicking, others are taking the opportunity to buy  :D

Yeah, it is indeed bargain prices. Might get even cheaper until this XT thing comes to pass.

LOL - watching this discussion panic is amusing.   You've got conspiracy theorists, bitcoin haters, panicky investor types, technical theorists, and general hand wringers coming out of the woodwork :)  And a few good comments also.

I can think of several reasons for what is going on.

1)  It could be related to the news coming out about the ItBit Bankchain Project.
ref: < http://www.newsbtc.com/2015/08/14/itbit-bankchain-project-based-on-distributed-ledger-not-bitcoin/ >

Let's face it - the Powers that Be are investing and focusing on the Blockchain.  Maybe there is behind the scenes knowledge that this is the breakout of a "Fiat Version Bitcoin" and people are dumping.   I mean - the story does imply that BIG financial institutions are committing to this "Non-Bitcoin Blockchain".  I think that is one scenario that is the scariest.  It's the elephant in the room that no one really talks about - the fact that it could happen.  It could happen repeatedly actually - several versions "Fiat Like Bitcoins" popping up in global regions.  Question is - would Bitcoin remain as the central Coin that binds them all?

2) Maybe "Satoshi" is dumping.   I mean, this is Satoshi's baby.  Let's face it - one of the biggest threats to the endgame Global Success of Bitcoin - would be too few controlling too much of the Bitcoin Supply.  Up and Down Waves where Bitcoin becomes more distributed amongst the masses makes for greater long term stability and strength of the Bitcoin System.  So maybe this was seen as simply an opportune moment to coincide and shake things up.  I mean - do you see the Spike Selling that is continual?  All it is is the broader expansion of Bitcoin into the global human community.  All part of the plan.  Do you really think "Satoshi's" great plan was to get a few of you rich.  

3) And as far as the Bitcoin vs Bitcoin XT thing goes - it'll get worked out.  And Bitcoin XT will prevail for the simple reason that for Bitcoin to survice to it's potential - it must.   As a matter of fact - if Bitcoin doesn't evolve to be able to handle all the blockchain ledger transactions that the big fiat guys are drooling over - then they REALLY WILL WIN, and ultimately develop their own "Fiat Bitcoin.

My guess is it's all good - unless you are in for the short run.

Peace, - d

<grin>  "His" disappearance is rather an amusing concept..... sort of like stating that you saw a ghost that was vaporous.  LOL

No. That's the funny thing. they weren't cheap everywhere at all, just on bitfinex. The other exchanges hardly moved.

Noone sensible would have sold on bitfinex at those low prices.
That's why it was clear it was a costly attack to margin call the longs (and yes, to buy them back at a low price).

How did that work out for you? Missed the flash rise again? Bad idea I bet.

Something like this happens whenever there is doubt in the bitcoin community.
Once upon a time it used to happen in the upwards direction too :)

Interesting point of view; and the only one making some sense to begin with.
Even though it draws a really scary scenario, it might be what's truly at stake...

https://soundcloud.com/whaleclub-bitcoin/bitfinex-ceo-recording-after-18082015-flash-crash

Because, without BTC there are no Crypto Currencies.

Can we imagine Crypto Currencies without Bitcoin?

I don't understand, why selling pre-fork coins now? I just bought some cheap coins. Even there is a fork in near future, I would reserve the right to sell the coins on the chain that I don't like

Let's be frank, only some percent of bitcoin users know the situation to the point that they are know exactly what is going on.
While majority don't know the situation and are afraid that their bitcoins will be useless in the future when fork will be split or some bullshit like that happen.

Bitcoin is over after Bitcoin XT ? I'm confusing BTC now  ???

Made me look at the price and sure enough... Now, I guess I have to read this thread. Thanks, bud.  :-*

They both use same blockchain. There is no difference. The drama is meant to confuse you.

https://twitter.com/paradimeshift

http://s10.postimg.org/bamsgj9mx/tsl.jpg

Wow! You're right! That dude could spot orange light years away.

Gavincoin into your anus

The rekt is real.
Shit's going to be sold down very far imo. No buyers, just sellers.

You cult follwers going to learn the hard way that blockspace isn't scarce at all...

I absolutely can.


selling pre-fork coins now because people going to panic later and once fork occures the coins are worthless already of course - not after the fact but beforehand.
You might find it strange that people prefer their money over having "twice as many coins"

The bitcoin price is not crashed. The actual value is the value that it has until 7 months (with the normal ups and downs). Never in his story the bitcoin price it was so stabilized. So I don't think your that your fear is justified.

Yes, everyone keep calm and watch your bankroll shrink. Good advice! Everyone keep calm while i be panicselling over here!

At that time if you are in wrong fork, your coins may disappear. That is the main reason for panic selling.

Time for some cheap bitcoins baby!

This kind of price instability attracts volatility traders and degenerate gambler types though  ;D

Lol who gives a shit what they think

They are probably too busy dumping on finex to make statements right now ...

Where did you get that information? How is that possible?

Peter Todd, a staunch opponent of the fork, told the bitcoin news outlet CoinTelegraph the possibility of node centralization poses “a huge risk with the potential to destroy bitcoin in the medium to long term.”

Bummer I missed it!! I can't blink around here!

Next time you guys plan a flash crash, please tell me!

You can expect few more Flash Crash before January/Fork. Be ready for it!

I think problem is'nt come from XT
but come from FUDER + troller

It is stabilizing now at $233-237
not going to go crazy on this.

After double bottom price will be up again 300$

https://scontent-sin1-1.xx.fbcdn.net/hphotos-xfp1/t31.0-8/s720x720/11890463_1122181221128859_5358863810296938356_o.jpg

Oh boy, sucks this happened overnight. I never like holding on to large amounts on bitcoin the first time I expected something good from it, it all turns the opposite way and crashes.
I do not know what to expect anymore.

Man, this shit is all over the news. "Bitcoin split" yadda, yadda.

Bitcoin is officially in a crisis now. People will not buy it so your liquidity could be gone pretty quick. Think again if you want to hold it out.

doesn't matter if it's true or not, as long as people think that, they will dump

It's a PR mess of course. But all this was very predictable.

Well at least Bitcoin is gaining media attention again, unfortunately, it resembles traditional finance even more now.....

Emotionally I feel this way too, but in view of a couple of things:

1.  The Bitcoin technology is sound.
2.  The XT vs. Core debate will be settled in the near-short-term by the mining community.
3.  Regardless of which way it goes, all the bitcoins I have are going to be perfectly valid.
4.  The block mining reward halves in a little less than a year.
5.  There is massive ongoing global financial investment in Bitcoin and Bitcoin-related infrastructure.

I rationally conclude that right now is a great time to buy, and if you're already long like I am, don't panic.

I just bought another $10K worth of Bitcoin at $233.  Pity that's the daily limit on my Coinbase account.  If it drops more I'm going to buy more.

It's true though; no such thing as bad publicity. Remember silk road...

This volatility is soooo nice. You buy low, and make a huge profit in a matter of minutes, when it goes up again. You always have to see the bright side of things. When people panic sell and the bots goes crazy, you

have to be in that mess and sweep up all the cheap coins. A fool is born every day, and most people are not used to the volatility that Bitcoin bring to the table.

The little bad news about the New York BitLicense and the exodus of some companies and the whole BitcoinXT fiasco, is creating a "magic" scenario for day traders and speculators to make some profits.  

Just wait till we sustain a price under $200.. oh boy. We will drop straight down to $100.

well i have some coins sold at 275 because of lending purpose, so i'm all for this crash  ;D

on another note, it was expected, i only hope that at least the old wall(200) is somewhere safe


more cheap coins, but it will not happen because everyone is waiting for that, which mean mass buy..

it always happens when people don't expect it. i was looking at the charts and saw the price fall to below $170 on bitfinex live. unfortunately i don't have a bitfinex account to use the sharp drop in my advantage. and you're right. now that people are waiting for it, it won't happen anymore.

I wasn't expecting it at all. I mean, I thought there will be some price decline, because of this fork situation, but I thought this decline will be controlled. When I woke up and saw $162 the low on Bitfinex, I was shocked. I don't even know have we touched this low last time in February?

Everything is definitely possible in the Bitcoin land! What scares me the most is what will follow in the near future.

I am afraid if bitcoin reach certain price threshold it can lose all credibility. Personally I won't buy any cheap coins and instead probably sell all mine.
If this crisis continue it can be the end of free cryptocurrency, we will have cryptos ensued by banks and governments since now on.

I'm gonna say that this allowed my target price to be satisfied. With the stuff I bought and currently have, I'm now fine with holding for a while.

Remember, many run-ups have been preceeded with a substantial flash crash.

i don't know if I should panic buy or panic sell...I'm just panicking. :D

Doesn't anyone believe that the Bitcoin Lightning Network could be a very good solution for the bitcoin protocol limitations?

okey i will wait 10$ to sell my bitcoin LOL

i know i would buy a shit tons if the price tank below 10 or something so unbelievable, i don't care if no one will be interested in bitcoin anymore, it will be like restarting from zero all over again

If I've learned anything from the BTC, it is that a crash is "foretold" by a sudden increase then decrease..... then followed by an eventual increase by a small margin once the dust settles.
Moral of the story, it takes time to accumulate worth.

If anything though, it still has lots of hurdle to accumlate worth then.

1. Bitcoin XT situation
2. Then after follows is bitcoin halving - which is howver many blocks away

So after those 2 major ones, I think the value will skyrocket on how people handle those situations while its in process.

What the hell is going on??? BTC crashing... Altcoins are tumbling too :-\ crashes everywhere...

This is not good at all... I'm guessing holding is not a good option atm  ???

and we go down again ;)

and we go up again ;)

https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.brainlesstales.com%2Fimages%2Fmisc%2Fbitcoin-roller-coaster.gif&t=555&c=ePSeWwcmddIGJg

For some reason once Bitcoin nears $300 level something happens or bad news shows up and it falls down to below ~$250 level again.
Is it coincidence, or is a group of traders heavily manipulating the price :-\

it happened way too many times for me to think it's purely coincidence. there is definitely manipulation going on to keep the price below $300. beside that, we as traders are not willing to buy through their sell orders to achieve anything over $300. which basically means the current price is a fair reflection of what's going on currently.

I still don't see it crashing, if it does, I will go in and buy everything I can.

Two months later  :-\

Never reached over $300.

I try and buy after it slips too $230 now.

Two months later and you are right. Back near $300 but rising now.